Chinese New Year Lull Weighs On Gold Futures To End Lower

KUALA LUMPUR, Jan 28 (Bernama) -- The gold futures contract on Bursa Malaysia Derivatives closed lower today, as subdued trading ahead of the Chinese New Year holiday weighed on the market, despite the positive momentum in the United States COMEX gold market, an analyst said.

The spot-month January 2025 contract slid to US$2,745.70 per troy ounce from US$2,761.60 at Monday’s close, and February 2025 eased to US$2,754.10 per troy ounce from US$2,770.00 previously. 

The March 2025, April 2025, and June 2025 contracts closed lower at US$2,762.60 per troy ounce from US$2,778.50.

Trading volume eased to 17 lots from 30 on Monday, while open interest edged down to 43 contracts from 47 previously.

According to the London Bullion Market Association’s afternoon fix on Jan 27, the price of physical stood at US$2,742.40 per troy ounce.

-- BERNAMA